November 15: The government has removed the minimum limit required for foreign investment for the non- resident Nepalis (NRNs) willing to investment in Nepal through investment companies.

The government made such a provision by using the authority granted by the Foreign Investment and Technology Transfer Act-2075 BS. This is expected to increase foreign investment to the country.

The minimum limit required for foreign investment for each investor stands at Rs 20 million, as per a notice published on the Nepal Gazette by the Ministry of Industry, Commerce and Supplies.

Earlier, the minimum limit for foreign investment was set at Rs 50 million.

A cabinet meeting held a few days ago took the decision to remove the minimum threshold needed for foreign investment for the non-resident Nepalis.

“We have published the notice on the Nepal Gazette in accordance with the latest decision of the Council of Ministers,” said Dr Toyanath Gyawali, secretary at the Ministry of Industry, Commerce and Supplies.